Frequently Asked Questions

Your Medicare enrollment timing depends on your circumstances. Many people first enroll around age 65, while people with qualifying current-employment coverage may have other enrollment opportunities.

Different enrollment periods apply depending on your current coverage and circumstances. Annual, Open and Special Enrollment Period rules differ.

You may be able to delay certain parts of Medicare without penalty if you have qualifying current-employment coverage. Employer size and coverage type can matter.

No. Medigap is designed to work with Original Medicare, not Medicare Advantage.

No. Medigap supplements Original Medicare. Medicare Advantage is another way to receive Medicare Part A and Part B benefits through a private Medicare-approved plan.

No. Medicare has deductibles, copays, coinsurance and coverage limitations. Prescription coverage is generally obtained through Part D or many Medicare Advantage plans.

Part D is Medicare prescription drug coverage offered through Medicare-approved private insurance companies.

No. Each plan has its own formulary, tiers and pharmacy network.

Going without Part D or other creditable drug coverage for too long may result in a late-enrollment penalty later. Your individual situation matters.

The amount depends on your income, debts, dependents, savings, future goals and how long you want protection to last.

Employer coverage can be valuable, but it may be limited and may not follow you if you leave the job. Individual coverage can provide additional protection.

Cost varies by age, health, coverage amount, policy type, term and insurer. Term insurance often has a lower initial premium than permanent insurance.

Term insurance covers a specified period. Permanent insurance is designed for long-term coverage and may include cash value, depending on the policy.

It depends on the insurer, product, coverage amount and your eligibility. Some policies use simplified or accelerated underwriting.

Generally, no. Traditional term life insurance is primarily death-benefit protection for a specified period.

Coverage may end, renew at a higher premium, or offer conversion options depending on the policy.

Life insurance death benefits are generally received by beneficiaries free of federal income tax, but exceptions can apply. Consult a qualified tax professional about your situation.

Health insurance helps pay eligible healthcare expenses according to the plan’s benefits, cost-sharing rules, network and exclusions.

Compare premiums, deductibles, provider networks, prescriptions, expected healthcare use and maximum out-of-pocket costs.

A deductible is the amount you generally pay for covered services before the plan begins paying certain benefits, subject to plan rules.

A copay is typically a fixed dollar amount. Coinsurance is typically a percentage of the allowed cost for a covered service.

ACA-compliant major medical plans generally cannot deny coverage or charge more because of a pre-existing condition. Other types of coverage can have different rules.

Examples may include loss of qualifying coverage, marriage, birth or adoption, and certain moves or household changes. Eligibility depends on the specific event and timing.

HMOs generally use a more structured provider network and may require referrals. PPOs generally offer more flexibility to use out-of-network providers, often at a higher cost.